Wow... it's been another big week of sales here at Toop&Toop. Although we are achieving exceptional sales, it has been a struggle to meet the demands of buyers, because new listings are scarce and harder to come by.
This confirms my thinking - in 2012 agent buyer databases are once again "King" when it comes to selling. Through the boom, any half competent real estate agent could pretty much sell anything; it was far more difficult to see the benefits of a strategic marketing campaign. Now the gap widens as market conditions change. Here's a classic example of what's happening at the moment… earlier this week, we had a sale of a $2 million property, well before the sign went up, before the property was publicly released. This is not a one off and is not only happening in the top end of the market, it's also occurring in the more affordable market segments.
Off market sales like this are typical when buyers are advised of newly listed properties and immediately swoop on the opportunity. But how do they find out about these properties, before everyone else? By being registered on a database, that's how.
Toop&Toop's VirtualAgent patented selling system works off a collaborative database of buyers. This has made Toop&Toop famous over the years (we've won heaps of awards, including national REI's). However, during the boom we did not treat it with the priority it deserved. Now that data is once again King, we are currently investing heavily in upgrading its functionality with 2012 innovations that are seriously exciting. VirtualAgent 2012 is being trialled right now and will leapfrog the market in capabilities to sell and promote houses like never before. This is seriously ground breaking technology and we are so excited to be in trial mode and soon able to offer our clients the highest service available in Australia – so stay tuned!
That said, innovation is everything at present. Without passion, commitment and resources, it will be a long year for real estate agents as volumes of transactions are down enormously on the highs of the boom...this is a defining time for our industry. Nationally real estate agents are leaving the industry in droves. Fair weathered and tired operators are rethinking; some have either gone broke or are well on their way to becoming so. Organisations like ours, with 27 years experience, are back on the front foot, reinventing themselves with new, exciting and innovative marketing and we are developing all new selling tools - an entirely new way to sell property in this new environment. So real estate is a whole new ball game. It's about results and no longer about the smoke and mirrors of the boom time - the consumer is demanding that our industry step up and show leadership.
Oh, and I have some exciting news for Landlords…Introducing 'Adelaide Property Management News', a public blog dedicated to bringing you – the Landlord - valuable, informative and timely information about the South Australian rental market. This service is offered to Toop&Toop clients and the public, a high level two-way communication resource on everything property management. So go to landlordnews.toop.com.au - we'd love to have you on board.
LANDLORDS…exclusively on ToopTV this week, Opposition Leader Isobel Redmond committed as a priority to review the Residential Tenancies Act and it's operations - now that's exciting news.
Landlords and sellers...we would love to hear from you. We have a shortage of properties and plenty of buyers, so please give us a call and see how we can help you. We are serious about real estate – it's what we live and breathe.
Anthony Toop Follow me on Twitter: @Anthony_Toop or call 0418 824 188